C.R.S. § 41-3-107: Legal status of authorities - tax exemption.

(1) An authority created pursuant to this article is hereby declared to be a political subdivision of the state, exercising essential governmental powers for a public purpose. The general assembly, therefore, finds:

(a) That no authority or county independently creating an authority is required to pay any general ad valorem taxes upon an airport or any facilities connected therewith located within the state nor upon the interest of the authority therein;

(b) That bonds issued under this article and the income therefrom are free and exempt from taxation by the state, or any political subdivision of the state, with the exception of transfer, inheritance, and estate taxes; and

(c) The tax exemptions specified in this section do not apply to any tenants or users of the airport that an authority operates.